They are talking 0.5-1.0c raising $8m valuing all of KMC equity at $1.5-$3.0m. It's a devastating crash landing for KMC shareholders. PXG is the Cornerstone underwriter and may emerge with effective control but not 51%. Anyone's guess when they will decide to mop up the rest.
If this is the case could PXG be after KMC plant ,crushing circuit get the foot in the door etc or get a better deal on a toll treatment ??....
-Going from the last Qtr PXG made 450k from toll treatment so if increased could well help pay to takeover KMC
should know soon enough if this is true or not personal don't really think PXG need to as I see them as more of a takeover play themselves
PXG Price at posting:
21.8¢ Sentiment: Buy Disclosure: Held
